Whilst on the subject of disappointments, I will add just one.
My biggest disappointment about Volt has been the lack of involvement from it's Chairman. When I first became a shareholder many years ago, my research showed that the biggest shareholder in the company was non other than Asimwe Kabunga. Not only was he the Chairman, but he also was a Tanzanian. Given that Volts main game was the Bunyu Graphite project located in Tanzania, it was reassuring that we had Asimwe as one of the main players in this company. I took it some how for granted that he would be able to pull some important strings to help Volt get to where it needed to get to achieve success quicker rather than later..
In recent times Asimwe has managed to turn LIN into a 400 million mkt cap company by getting a rare earth project on board. It was not so long ago that LIN was trading around the 2c mark. Today it is trading at 40c. A remarkable transformation has occurred with this company. He has played a major role in achieving this feat.
He was instrumental in getting the placement done for LIN at 10c when the LIN shares were trading at just 6c. He again was the main man to get a further 16 million dollars in a placement at 21c on the 9th of Dec 2022 when the shares had been trading at 15c only days before the trading halt.
How often does one get to witness a company raising money at a higher price than where it's been recently trading.
Asimwe was able to do this, not once but twice for LIN. A fantastic achievement.
Much has been spoken about the recent cap raising that Volt was involved with. Many aired their disappointment on why the raising was not done at a higher price.
Given Asimwe's ability to broker such a great deal on the recent cap raisings involving LIN one can only wonder ponder why he was not involved with the raising for Volt. Its a question that I have been grappling with for quite some time. Still haven't been able to satisfy my own curiousties.
For a man who currently owns around 450 million shares in Volt, it would seem a no brainer that he would want Volt to be successful and would be doing everything in his power to improve Volts standing . The fact that he had little, if any involvement in Volts previous cap raisings remains a mystery to me.
From what I can gather his only involvement has been from a financial perspective. He has always been willing to put his own money in when the opportunity presented itself. But given what he has achieved with raising money for LIN in recent times, one can only ask themselves, why he has failed to used his considerable influence to help raise money for Volt. Many have stated that it was the last cap raising that has kept many investors away from Volt Resources. Why he hasn't used his negotiating skills to raise money for Volt is the baffling question. And given he would also have contacts in Tanzania, I haven't seen any evidence to date that Volt has benefited from that either. Life is full of mysteries.
For what it's worth, he currently owns more than 100 million shares in LIN. For those with a calculator, I will let you work out what that investment is currently worth.
There can be no argument that he has done remarkably well putting LIN onto the path of success. It is just a huge shame that he has not shown the same PASSION and INVOLVEMENT in getting Volt to be the success all long termers have been hoping for. I read once where Asimwe said Volt would be big one day. Maybe it's time he started helping them achieve their goals. Never too late.
If I had the opportunity to speak to him one on one, it is a question I would love to know the answer to.
Cheers.
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Mkt cap ! $14.55M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
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43 | 34832920 | 0.3¢ |
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Price($) | Vol. | No. |
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0.4¢ | 4986561 | 5 |
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No. | Vol. | Price($) |
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43 | 34832920 | 0.003 |
22 | 16651964 | 0.002 |
9 | 17567001 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.004 | 4986561 | 5 |
0.005 | 19273733 | 21 |
0.006 | 9153198 | 17 |
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